If you have a killer idea for handmade Father’s Day tool belts–but don’t have the cash to get started–Etsy just made life a little easier. Today, the online marketplace announced Fund on Etsy, its own spin on the crowdfunding model made popular by Kickstarter and Indiegogo.
With Fund on Etsy, the company isn’t offering sellers any new, groundbreaking functionality they couldn’t get elsewhere. It simply brings crowdfunding directly into Etsy, removing an extra step and allowing sellers to integrate fundraising directly into their digital storefronts. It also allows sellers to put up listings for items that technically aren’t available yet, allowing shoppers to discover them in the context of the Etsy marketplace–which is quite a departure from the Kickstarter scene.
Fund on Etsy will run as a pilot in the U.S. from now until August 16th. If all goes well, the program could turn into another revenue stream for the newly public company. Etsy will pocket a 3.5% cut of each transaction, as well as a 20 cent up-front fee for posting a campaign, according to The Wall Street Journal.
[via The Verge]